Tuesday, January 04, 2011

CEO income

There has to be something wrong with this:
Early Monday afternoon, just past midway through the first working day of the year, corporate Canada's top 100 chief executive officers had already made what it takes the average Canadian the entire year to earn. According to the Ottawa-based Canadian Centre on Policy Alternatives (CCPA), the nation's top 100 CEOs earned an average of $6,643,895 in 2009 while the average Canadian pulled in about $42,988.
This is alarming for a number of reasons. It is a relatively new phenomenon -- an "extraordinary explosion" of CEO income, according the report published by the Centre. Just 15 years ago, the top 50 CEOs in the country earned an average of $2.6 million. At the time they were making 85 times more than the average Canadian. Today, they are making 155 times more than the average Canadian. And the gap between the rich and poor is again growing.
Read more: http://www.edmontonjournal.com/business/downturn+salaries/4055330/story.html#ixzz1A7ggLWOZ

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